Draft Basic Loan Agreement

Draft Basic Loan Agreement

Draft Basic Loan Agreement

Upwork

Upwork

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4 hours ago

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Ontario, Canada- Please draft loan agreement to take the place of several loan agreements I had with Lender. I have a PDF listing of the old loans that this Agreement will replace. The new loan terms will be: Principal of $70,000 at a 5% annual interest rate starting January 1st, 2026 on 36mo term (from Jan 1st, 2026) with balance due in full at end of term. Monthly payments of $800.00, beginning March 1st, 2026, due on the 1st of each month. Therefore, no payment will be made between now and March 1st. Fully open to payments/total repayment at any time to further reduce/eliminate the loan and interest cost with no penalty or restriction to payments. Loan in my personal name. No security on anything. Disputes mediation first. Must cancel out previous loans (see attached info re: those loans) Is there a way to write that this loan can not be secured on any real estate assets? Any questions, please let me know. Thank you! Please note: I have other projects that can be worked on and would love to find a business/commercial lawyer in Ontario who can assist with other matters if need be.